Scoop has an Ethical Paywall
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1070]
Bidders cross 90% threshold for Synlait Farms takeover
Wednesday, 27 November 2013, 5:51 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Shanghai Pengxin, which bought the Crafar family farms in a controversial deal last year, and the Synlait founders have cross the 90 percent compulsory acquisition threshold in their $85.7 million takeover bid for Synlait ... More >>
MARKET CLOSE: NZ shares mixed; Telecom, Fletcher, Xero gain
Wednesday, 27 November 2013, 5:45 pm | BusinessDesk
Nov. 27 (BusinessDesk) – New Zealand shares were mixed, with gains in Telecom, Xero and Fletcher Building enough to lift the NZX 50 Index, while more stocks fell, including Sky Network Television and SkyCity Entertainment Group. More >>
NZ dollar holds near five-year high vs. AUD on rates outlook
Wednesday, 27 November 2013, 5:09 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The New Zealand dollar held near five-year highs against its Australian counterpart as the interest rate outlook on this side of the Tasman continues to be more attractive on the strength of the local economic recovery. More >>
NZ Super Fund buys US$55M stake in US wind turbine designer
Wednesday, 27 November 2013, 4:12 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The New Zealand Superannuation Fund has bought a US$55 million stake in unlisted US wind turbine maker Ogin Inc. More >>
THL sees NZ merger, US driving 25% 1H earnings growth
Wednesday, 27 November 2013, 4:10 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Tourism Holdings, which merged its campervan rental business with two rivals last year, said benefits from the merger and continued strong performance in the US market is expected to lift first-half earnings by 25 percent. The shares ... More >>
Pharmacybrands posts 17% gain in first-half profit
Wednesday, 27 November 2013, 1:23 pm | BusinessDesk
Nov. 27 (BusinessDesk) – Pharmacybrands, the retail pharmacy and medical centre owner, posted a 17 percent gain in first-half profit after restating revenue in line with new accounting rules and noting the impact of changes to the way the government ... More >>
Slump in margins to push debt levels at Marsden Point
Wednesday, 27 November 2013, 11:44 am | BusinessDesk
Nov. 27 (BusinessDesk) – Refining margins at the country’s only refinery, at Marsden Point, have slumped to levels not seen since 2009, prompting Refining NZ to warn its borrowings will peak at up to $120 million more than originally expected ... More >>
NZ record smallest October trade deficit since mid-1990s
Wednesday, 27 November 2013, 11:40 am | BusinessDesk
Nov. 27 (BusinessDesk) – New Zealand posted its smallest October trade deficit since the mid-1990s as milk powder, butter and cheese shipments drove exports to a record for the month. More >>
SeaDragon shares drop after raising $2M to help fund factory
Wednesday, 27 November 2013, 11:36 am | BusinessDesk
Nov. 27 (BusinessDesk) – Shares in SeaDragon, which manufactures fish oils for health supplements, dropped 39 percent after the company sold shares at a discount to raise capital for a new $4 million factory near Richmond. More >>
NZ dollar rises vs. Aussie on intervention, rate cut talk
Wednesday, 27 November 2013, 9:15 am | BusinessDesk
Nov. 27 (BusinessDesk) – The New Zealand dollar advanced against the Australian dollar as Australia’s central bank mulls intervention to pull down its currency on concern it will stymie economic growth. More >>
Vector on negative credit watch as S&P doubts NZ regs
Wednesday, 27 November 2013, 9:11 am | BusinessDesk
Nov. 27 (BusinessDesk) - Auckland lines company Vector has had its BBB+ credit rating placed on negative credit watch after global rating agency Standard & Poor’s decided New Zealand’s regulatory regime is less stable and a higher risk than in ... More >>
While you were sleeping: US housing, Tiffany sparkle
Wednesday, 27 November 2013, 7:46 am | BusinessDesk
Nov 27 (BusinessDesk) – Wall Street gained as better-than-expected American housing data helped bolster shares of homebuilders while an upgraded profit outlook lifted shares of Tiffany. More >>
MARKET CLOSE: NZ shares fall on NZD-AUD strength, FBU down
Tuesday, 26 November 2013, 6:05 pm | BusinessDesk
MARKET CLOSE: NZ shares fall on NZD-AUD strength, Fletcher down; MSCI changes kick in More >>
NZ dollar stalls as Aust central bank talks intervention
Tuesday, 26 November 2013, 5:48 pm | BusinessDesk
Nov 26 (BusinessDesk) - The New Zealand dollar was little changed in local trading with a light flow of economic data keeping traders on the sidelines, while Reserve Bank of Australia deputy governor Philip Lowe reiterated the bank is open to intervening ... More >>
RESEND: Foley takes quarter stake in Gault’s restaurants
Tuesday, 26 November 2013, 3:18 pm | BusinessDesk
RESEND: US billionaire Bill Foley takes quarter stake in Gault’s restaurant empire, seeks vertical integration More >>
US billionaire Foley takes stake in Gault’s restaurants
Tuesday, 26 November 2013, 2:53 pm | BusinessDesk
US billionaire Bill Foley takes quarter stake in Gault’s restaurant empire, seeks vertical integration More >>
JK Kids failure a symptom of headwinds from internet
Tuesday, 26 November 2013, 1:07 pm | BusinessDesk
Nov. 26 (BusinessDesk) – JK Kids decision to close after 18 years is a symptom of ongoing headwinds faced by New Zealand clothing retailers from international brands via the internet and consumer preference for discount stores and hand-me-downs, a ... More >>
CORRECT: Greenpeace hauls down flag at sea, heads for court
Tuesday, 26 November 2013, 12:51 pm | BusinessDesk
Nov. 26 (BusinessDesk) – Greenpeace is making a last ditch attempt to halt Taranaki deep-sea oil drilling, which began overnight, filing papers in the High Court in Wellington for judicial review of the regulating agencies’ performance in permitting ... More >>
Greenpeace hauls down flag at sea, heads for court
Tuesday, 26 November 2013, 12:37 pm | BusinessDesk
Nov. 26 (BusinessDesk) – Greenpeace is making a last ditch attempt to halt Taranaki deep-sea oil drilling, which began overnight, filing papers in the High Court at Auckland for judicial review of the regulating agencies’ performance in permitting ... More >>
Abano shares valued at $8.30-$10.05, exceeding Archer price
Tuesday, 26 November 2013, 11:14 am | BusinessDesk
Nov. 26 (BusinessDesk) - Abano Healthcare is worth $8.30 to $10.05 a share for 100 percent of the company, a premium of as much as 46 percent to recent trading and well north of the takeover price proposed by Archer Capital and shareholders Peter ... More >>
